Crude Petroleum in Canada

EXPORTS (2018): $66.6B, World Rnk 4 / 120
Flag Rnk 1 / 1201

TOP DESTINATION (2018): $63.5B, United States

FASTEST GROWING MARKET (2017 - 2018): $10.2B, United States

IMPORTS (2018): $12.2B, World Rnk 15 / 148
Flag Rnk 4 / 1212

TOP ORIGIN (2018): $9.74B, United States

FASTEST GROWING ORIGIN (2017 - 2018): $3.09B, United States

ECONOMIC COMPLEXITY of Canada (2018): 0.98, Rnk 25 / 137

PRODUCT COMPLEXITY  IN Crude Petroleum (2018): -2.84, Rnk 1018 / 1018

Overview: This page contains the latest trade data of Crude Petroleum in Canada.

Exports: In 2018, Canada exported $66.6B in Crude Petroleum, making it the 4th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most exported product in Canada. The main destination of Crude Petroleum exports from Canada are: United States ($63.5B), United Kingdom ($837M), China ($414M), Italy ($386M), and Spain ($358M).

The fastest growing export markets for Crude Petroleum of Canada between 2017 and 2018 were United States ($10.2B), United Kingdom ($837M), and Netherlands ($246M).

Imports: In 2018, Canada imported $12.2B in Crude Petroleum, becoming the 15th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 4th most imported product in Canada. Canada imports Crude Petroleum primarily from: United States ($9.74B), Angola ($683M), Azerbaijan ($615M), Norway ($447M), and United Kingdom ($280M).

The fastest growing import markets in Crude Petroleum for Canada between 2017 and 2018 were United States ($3.09B), Angola ($683M), and Cote d'Ivoire ($131M).

Overview: In April 2020 Canada's Crude Petroleum exports accounted up to C$8.05B and imports accounted up to C$945M, resulting in a positive trade balance of C$7.1B. Between April 2019 and April 2020 the exports of Canada's   Crude Petroleum have decreased by C$-8.61B (-51.7%) from C$16.7B to C$8.05B, while imports decreased by C$-2.32B (-71%) from C$3.26B to C$945M.

Destinations: In April 2020 Crude Petroleum exported mostly to United States (C$7.89B), Netherlands (C$52.7M), Ireland (C$25.7M), China (C$23.4M), and Italy (C$22.7M), and imported mostly from United States (C$865M) and Saudi Arabia (C$80.3M).

Growth: In April 2020, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to United States (C$-8.5B or -51.8%), Netherlands (C$-101M or -65.6%), and Italy (C$-42.1M or -65%). In April 2020, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from United States (C$-2.24B or -72.1%) and Saudi Arabia (C$-19.3M or -19.4%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (April 2019 - April 2020): C$-8.61B, (-51.7%)

IMPORT GROWTH (April 2019 - April 2020): C$-2.32B, (-71%)

MAIN EXPORTER (April 2020): Alberta, C$6.92B

MAIN DESTINATION (April 2020): United States, C$7.89B

This section shows Crude Petroleum's exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Crude Petroleum over time.

Value

EXPORTS (2018): $66.6B

IMPORTS (2018): $12.2B

NET TRADE (2018): $54.4B

In 2018, Canada exported $66.6B in Crude Petroleum. The main destinations of Canada exports on Crude Petroleum were United States ($63.5B), United Kingdom ($837M), China ($414M), Italy ($386M), and Spain ($358M).

In 2018, Canada imported $12.2B in Crude Petroleum, mainly from United States ($9.74B), Angola ($683M), Azerbaijan ($615M), Norway ($447M), and United Kingdom ($280M).

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IN 2018, Canada HAD A POSITIVE NET TRADE IN Crude Petroleum WITH:

  • United States, $53.8B ($63.5B - $9.74B)
  • United Kingdom, $557M ($837M - $280M)
  • China, $414M ($414M - $0)

IN 2018, Canada HAD A NEGATIVE NET TRADE IN Crude Petroleum WITH:

  • Angola, -$683M ($0 - $683M)
  • Azerbaijan, -$615M ($0 - $615M)
  • Norway, -$394M ($53M - $447M)
Flow

THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Canada WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Canada WERE (2017 - 2018):

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Market Concentration

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Flow
Type

In 2018, Canada's main exporting competitors in Crude Petroleum were:

In 2018, Canada's main importing competitors in Crude Petroleum were:

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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Crude Petroleum in Canada. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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Tariffs by Country

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In 2018, the tariffs for Crude Petroleum in the imports of Canada were of 0% around the world.

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